Press Release-Automodular Corporation: Second Quarter 2012 Results

AJAX, ONTARIO--(Marketwire - Aug. 8, 2012) - Automodular Corporation (TSX:AM) ("Automodular") reports net earnings of $4.4 million or $0.22 per share for the three months ended June 30, 2012 compared to $2.6 million or $0.13 per share for the same three-month period ended June 30, 2011. For the six months ended June 30, 2012 and 2011 Automodular reports net earnings of $8.0 million and $6.1 million or $0.40 and $0.30 per share, respectively.

The results for the first half of the year are summarized below (all figures in '000s except per share amounts):

Three months ended June 30

Six months ended June 30

2012
$

2011
$

2012
$

2011
$

Sales

29,701

18,537

53,519

39,297

Net earnings

4,388

2,550

8,019

6,097

Per share - basic

0.22

0.13

0.40

0.30

Per share - diluted

0.22

0.13

0.39

0.30

The Board of Directors has declared a $0.06 regular quarterly dividend payable September 6, 2012 to shareholders of record August 23, 2012.

Automodular also announces that John E. Blair has resigned from the Board of Directors, effective immediately.

Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford Motor Company's Oakville Assembly Plant - and the renewable energy industry - Vestas Nacelles A/S. The Company has three operating facilities and employs approximately 600 people.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com.Readers are cautioned not to rely on forward-looking statements. Except as required under continuous disclosure obligations, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular does not provide financial outlooks.